Don’t miss key December deadline The deadline for filing your tax return for 2021/22 is 31 January 2023. However, an earlier deadline of 30 December might be relevant to you. January is the busiest month for tax return filings each year – more than half a million returns were filed on 31 January 2022 alone. ... Read More
The Autumn Statement 2022 On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. The Chancellor laid out three core priorities of stability, growth and public services. The government sought a balanced path to support the economy and return to growth, ... Read More
HMRC urges parents to use Tax-Free Childcare HMRC is keen to remind families that they can take advantage of the Tax-Free Childcare initiative to help save money. What does it cover and is it worth it? A press release titled “£2,000 in government funding available to help with childcare costs” is reminding parents that they ... Read More
Reversal on Emergency Budget 2022 Chancellor brings forward further medium-term fiscal plan measures Budget menu items :- National Insurance contributions Income tax Business Stamp Duty Land Tax Land Transaction Tax Energy bills As the saying goes, a week is a long time in politics. However, recent events have been unprecedented. At the Mini Budget a ... Read More
Making Tax Digital for VAT-registered businesses has been mandatory since April 2022. However, up until now you have been able to file returns using the old online VAT account. When is this changing? VAT online service to be withdrawn soon Going forward, filing via MTDfV-compliant software will be mandatory. Get the VAT Services you need ... Read More
Career opportunity – Trainee Accountant Trainee Accountant – FULL STUDY PACKAGE Manchester Old Trafford £18,000 – £21,000 DoE Great Training and Progression Opportunities Full Study Support. You will work alongside the wider accounts team providing full accountancy services to sole traders and SME businesses in a variety of industries. You will be responsible for overseeing ... Read More
Mini Budget – September 2022 The government’s plans for growth Chancellor reveals his plan for growth Budget menu items :- National Insurance contributions Income tax Business Stamp Duty Land Tax Other comments Government announces plans to help cut energy bills for businesses Energy Price Guarantee plan caps household bills New plan for patients aims to ... Read More
Variable payment plan goes live on 19 September On 19 September HMRC’s new “variable payment plan” for payroll deductions and liabilities goes live. How does it differ from current payment arrangements and how can you sign up for it? The current system for paying monthly payroll deductions by direct debit (DD) requires employers to set ... Read More
HMRC wins £42k late filing penalty row It’s sometimes possible to appeal against a late filing penalty on the grounds that there was a “reasonable excuse” for the lateness. However, you have to be able to meet further conditions. How does a recent Upper Tribunal case demonstrate that a penalty can be upheld, even if ... Read More
What are the consequences of unlawful dividends? Your company’s accounts for its last financial year have been prepared in draft. They show that you and your fellow director shareholders received more dividends than permitted by company law. This has tax consequences. What’s the most tax-efficient way to manage them? Insufficient profit The last couple of ... Read More
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